|
201204292
<br />Together with all rights, easements, appurtenances, royalties, mineral rights, oil and gas rights, all water
<br />and riparian rights, ditches, and water stock and all existing and future improvements, structures..
<br />fixtures, and replacements that may now, or at any time in the future, be part ofthe real estate described
<br />above (all referred to as "Property"),
<br />3. MAXIMUM OBLIGATION LIMIT. The total principal amount secured by this Security Instrument at
<br />,any one time shall not exceed $ _1 9 2$2.71_ _ _ _ _ _. This limitation of amount does not include
<br />interest and other fees and charges validly made pursuant to this Security Instrument. Also, this
<br />limitation does not apply to advances made under the terms of this Security Instrument to protect
<br />Beneficiary's security and to perform any of the covenants contained in this Security Instrument.
<br />4. SECURED DEBT AND FUTURE ADVANCES. The term "Secured Debt" is defined as follows:
<br />A_ Debt incurred under the terms of all promissory note(s), contract(s), guaranty(ies) or other evidence
<br />of debt described below and all their extensions, renewals, modifications or substitutions. (When
<br />referencing the debts below it is suggested that you include items such as borrowers' names, note
<br />amounts, interest rates, maturity elates, etc.)
<br />Promissory Note # 516657 elated 05/22/2012 in the amount of $19,282.71 maturing on
<br />05/20/2017
<br />B. All future advances from Beneficiary to Trustor or other future obligations of Trustor to Beneficiary
<br />under any promissory note, contract, guaranty, or other evidence of debt executed by Trustor in
<br />favor of Beneficiary executed after this Security Instrument whether or not this Security Instrument
<br />is specifically referenced. if more than one person signs this Security Instrument, each 'i'rustor
<br />agrees that this Security Instrument will secure all future advances and future obligations that are
<br />given to or incurred by any one or more Trustor, or any one or more Trustor and others. All future
<br />advances and other future obligations are secured by this Security Instrument even though all or part
<br />may not yet be advanced- All future advances and other future obligations are secured as if made on
<br />the date ofthis Security Instrument- Nothing in this Security Instrument shall constitute a
<br />commitment to make additional or future loans or advances in any amount. Any such commitment
<br />must be agreed to in a separate writing.
<br />C. All obligations Trustor owes to Beneficiary, which may later arise, to the extent not prohibited by
<br />law, including, but not limited to, liabilities for overdrafts relating to any deposit account
<br />agreement between Trustor and Beneficiary.
<br />D. All additional sums advanced and expenses incurred by Beneficiary for insuring, preserving or
<br />otherwise protecting the Property and its value and any other sums advanced and expenses incurred
<br />by Beneficiary under the terms of this Security Instrument.
<br />This Security Instrument will not secure any other debt if Beneficiary fails to give any required notice of
<br />the right of rescission.
<br />5. PAYMENTS. Trustor agrees that all payments under the Secured Debt will be paid when due and in
<br />accordance with the terms of the Secured Debt and this Security Instrument.
<br />6. WARRANTY OF TITLE. Trustor warrants that Trustor is or will be lawfully seized of the estate
<br />conveyed by this Security Instrument and has the right to irrevocably grant, convey, and sell the Property
<br />to Trustee, in trust, with power of sale. Trustor also warrants that the Property is unencumbered, except
<br />for encumbrances of record.
<br />7. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security
<br />agreement or other lien document that created a prior security interest or encumbrance on the Property,
<br />Trustor agrees:
<br />A. I'o utake all payments when due and to perform or comply with all covenants.
<br />B- To promptly deliver to Beneficiary any notices that Trustor receives from the holder.
<br />C. Not to allow any modification or extension of nor to request any future advances under any note or
<br />agreement secured by the lien document without Beneficiary's prior written consent.
<br />8. CLAIMS AGAINST TITLE. Trustor will pay all taxes, assessments, liens, encumbrances, lease
<br />payments, ground rents, utilities, and other charges relating to the Property when due. Beneficiary may
<br />require 'Trustor to provide to Beneficiary copies of a]I notices that such amounts are due and the receipts
<br />evidencing Trustor' s payment. Trustor will defend title to the Property against any claims that would
<br />impair the lien of this Security Instrument. Trustor agrees to assign to Beneficiary, as requested by
<br />Beneficiary, any }nights, claims or defenses Trustor may have against parties who supply labor or
<br />materials to maintain or improve the Property.
<br />515,557
<br />Security Instrument -Consumer NE RE -QT -NE 7%9=`20l l
<br />VU P {`w, Bankers Syslemernt 'MRC165(NE .f9 67}
<br />Wall ers Ktuw e..r FI ran tial Scf,iees 01994 2011
<br />
|